IRA Charitable Rollovers and RMD
Make a tax-free gift directly from your IRA
Put your IRA to work for your charitable giving. Did you know that you can include gifts to Green Foothills as part of your annual required minimum distribution (RMD)? When you make a gift through your IRA, you receive a tax benefit even if you take the standard deduction.
To qualify: You must be 70½ or older at the time of the gift.
Distributions must be made directly from a traditional IRA account by your IRA administrator to Green Foothills Foundation (dba Green Foothills). You must complete the distribution by your financial institution’s RMD deadline. Donors may not receive any goods or services in return for their contributions, and will obtain written documentation of their contribution to Green Foothills.
Tax benefits: IRA Qualified Charitable Distributions are excluded as gross income for federal income tax purposes on your IRS Form 1040. The gift counts toward your required minimum distribution for the year in which you made the gift. You could avoid a higher tax bracket that might otherwise result from adding an RMD to your income.
For more information about IRA charitable rollovers and RMD, please contact Justyne Schnupp ([email protected], 650-961-7243 x340)
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